Costa Rica

Fontainebleau Miami Beach secured $1.3 billion through a CMBS, mezzanine loan, and equity infusion to refinance $1.8 billion in debt.

Global tourism rebounded strongly in 2024, with international arrivals reaching 98% of pre-pandemic levels, driven by post-pandemic demand, increased air connectivity, and growth in key regions like the Middle East, Europe, and Asia-Pacific.

San Francisco's largest hotel complex, Hilton San Francisco Union Square and Parc 55, is nearing a sale after over a year in court-appointed receivership.

Mandarin Oriental Hotel Group is expanding in Miami with a new Brickell Key project, adding projects in Mexico and Grand Cayman.

Goldman Sachs is cautiously optimistic about the lodging sector, with Buy ratings on Hilton, Wyndham, and Marriott, while holding Neutral or Sell ratings on others, especially in the timeshare segment.

M3, LLC has secured a majority investment from Blackstone Growth, with AAHOA also investing, to accelerate its growth and expand its hotel management software.

Hilton plans to exceed 300 hotels in the Caribbean and Latin America within three years, expanding its presence significantly in countries like Argentina, Peru, Colombia, Costa Rica, Mexico, the Dominican Republic, and Brazil, while introducing new brands and entering new markets.

The market liked this conclusion: both companies' stock prices rose, with Choice Hotels up 6% and Wyndham Hotels 2%, indicating investor relief – or strategic reassessment.

Marriott International announced a year of robust room signings and additions across the Caribbean and Latin America in 2023. The Company nearly doubled its number of organic deal signings in the region versus the prior year.

Choice Hotels International purchased more shares in Wyndham Hotels & Resorts in its unsolicited exchange offer to acquire the company. The Baird/STR Hotel Stock Index rose 9.3% in November, with the Hotel REIT sub-index up 7.6% year-to-date and the Hotel Brand sub-index up 30.6% year-over-year. BCD Travel forecasts a global decrease in airfares and a 6.8% increase in hotel rates in 2024.